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Updated almost 5 years ago,
Moving an LLC from MA to OH
Hello,
i currently have an LLC based in Massachusetts with property in Ohio. I would like to move the LLC to Ohio to lower the tax burden. I called both Secretaries of State and found out I would have to register with Ohio as a foreign LLC. I also found out I would have to completely dissolve the Massachusetts LLC. Thus, I would basically be closing one company and starting another in a different state. My question is what happens to the assets / liabilities of the Massachusetts LLC. Would I have to do a separate asset transfer? Also, would any transfer of ownership or closing of the LLC trigger a mortgage due on sale clause? Does anyone have experience with this or know where I can find a good RE lawyer?
Thanks,
Justin